For people who know what VAR is and how much Wall Street loves it link
“Trading losses exceeded Goldman Sachs’s value-at-risk limit, a measure of how much the company estimates it could lose in the securities markets in one day, on one occasion during the quarter. Average daily value-at-risk was $102 million in the quarter”
Even the smartest blokes with PhD’s to their names cannot figure out how markets will behave when people get spooked and do not act rationally.